There is enough concern right now about possible recessions that I think it appropriate that we start talking about it. You can make predictions here or in random preditions thread but discussion about the economy goes here.
Hi, just a thought, if you all stop going out, saving and not spending, the recession could be a self fulfilling prophecy. At the least it will make it worse because that would impact the small businesses, your local cafe, grocery, restaurants etc, no one out not enough people to keep the business open, the staff on and so on. So a bit of a juggle to feel safe but not make things worse in your area.
Good luck
Regards
Matildagirl
I am Southern... and... was a single mom that raised two kids on her own...on $1.65 an hour.... then... years and years later...5.00 an hour... with little to no child support. I know how to make a pot of soup and cornbread and live off of it for weeks at a time, as well as hunt, forage and gather the woods and meadows and my own yard. Big pots of beans, taters, rice and to how to grow a garden. Barter with neighbors/local farmers for eggs/milk etc. May not have all I want to have to eat? But rest assured... I will have plenty to eat.
@matildagirl While your observation has merit, part of the economic disaster that's headed our way will also mean much higher unemployment, much higher prices on literally everything due to tariffs, and depressed incomes for most of the working population, so less money in the hands of those who actually support the economy; possible cuts in social security payments (I think you call them superannuation payments?) so less money for seniors, along with cuts to and the possible privatization of Medicare/Medicaid (gov't sponsored healthcare insurance for seniors), to also include increased co-pays and monthly costs for those programs. There is also the likely repeal of health insurance for tens of millions of other people, which will increase healthcare costs across the board for everyone, and on top of all that, increased taxes on the 99% to try to offset the tax cuts to the 1% and corporations will also cut into whatever remains of people's incomes. Rents and other housing costs are also likely to remain high if not increase, and many thousands will become homeless as a result. It's hard to support local businesses - who will also have increased fixed, labor, and inventory costs - when one is living on survival wages in a heavily depressed economy.
Hi, I do hope all of that doesn’t come to pass for the country.
Just as a clarification the government here pays a pension to its seniors, how much depends on an assets and income test. Superannuation is our own money which we can take as a pension, or a lump sum. If we take it as a pension and we are over 60 it’s tax free. Lump sums can be taxed depending on how much. Employers pay, it’s now 12% I think on top of your salary into super funds from when you start working, which you can’t access until you retire. It was started to help people have more money in retirement and for the government to not have to pay out as much in pensions. The super funds can be industry based or retail ones or you can start your own fund that you administer yourself which have to be audited yearly.
Regards
Matildagirl
We started eating really simple, whole foods about 6 months ago. We started it because I had a strong intuition I needed to get my health in order for what's coming up. (Side benefit, I've dropped 50 pounds so far!).
This has reduced our food bill too. Plus my thinking is that we are weaned off of processed foods now and have a head start on adjusting our tastebuds if we are living more from our garden (currently we get our veggies from local CSA's and the farmer's market).
I recommend buying a new phone now if you're close to needing a new one since the price will certainly go up. This time we opted for the Google Pixel. They update it for seven years, which is a long phone life in this day and age. Also, it's easy to turn the mic and camera off on that phone so it's harder for the phones to listen to you (I'm a security nerd).
Also, we use the Libby and Kanopy apps to download great stuff from our library. If you have a decent library you may be able to check out more than just books. Some have tickets to the zoo, parks, events and more. All for free. It's great for cheap entertainment.
In my town we also have a puzzle exchange. Once a month they reserve a big room at the rec center and you bring puzzles and you take puzzles. It's great and it's free. I was inspired and did a puzzle game swap with my neighbors too. It's a great way to have a new to you game and meet the neighbors if you haven't already.
Those are some off the top of my head ideas. I am very sleep as I write this so hopefully it's coherent!
@tedp, I was the one who got an inner message that we'd see historic inflation levels by the end of 2025. I also saw a graph for the same time period that looked like an EKG (electrocardiogram) of democracy, but could also have been an EKG of our economy, and it was weak.
@Bluebelle also saw a market downturn, only earlier in the year, and by the end of the year, she saw the most wealthy members of society complaining to the administration about the markets.
@jeanne-mayell and others. I sense that the next two years will be tough. Hopefully there will be a positive shift before then.
What do you all see?
Did you notice that the U. S. Court of International Trade has ruled that Trump did not have the authority to impose most of his ridiculous tariffs? gov.uscourts.cit.17080.55.0.pdf. What happens now?
@law5960 He's ignored every court ruling so far, including from SCOTUS. I doubt that will change now.
I personally have whiplash from the tariff hokey pokey. Time for a grown-up in the White House. Thank God for the courts, they are making him meltdown, and he may not be able to govern much longer. I feel his departure.
@averylegacy The whiplash continues. Now the appellate court has temporarily stayed the order of the International Trade Court, making the tariffs active again. Then, a federal district court in D.C. entered an injunction against some tariffs after finding that they are probably illegal. That would stop them from being enforced EXCEPT that judge stayed his own order for two weeks so the government would have time to appeal. So, the tariffs remain in place.
I wouldn't be surprised if the appellate courts say that since the tariffs are now in place, they are the "status quo," and the status quo can be preserved by allowing them to remain in place while the legal processes play out. That could very well take us to the midterm elections.
By then, the U.S. economy is likely to be in tatters and the Democrats can blame those tariffs as well as the other things this administration will do in the meantime. If the tariffs did not remain, the administration would probably find other ways to destroy the economy and the Republicans could blame the ending of the tariffs for the economic mess. Until then, who knows what Trump's "taco" approach to tariffs will give us.